Stocks: 6 things to know before the open

Monday morning blues? Not in Europe, where markets are resuming their race higher. Will Wall Street follow?

Here are the six things you need to know before the opening bell rings in New York:

1. Monday momentum: Most European markets are rising in early trade, with Germany's DAX pushing above 12,000 points for the first time, as the newly-launched money printing program by the European Central Bank continues to support stocks. The DAX is the world's hottest market so far this year.

3. China boost: The Shanghai Composite gained more than 2%, and Hong Kong's Hang Seng rose by 0.5%, as China's Premier Li Keqiang promised to press ahead with economic reforms, and reiterated that the government had plenty of options to bolster growth if necessary to hit this year's target of 7%.

"This is not nail clipping," he said. "This is like taking knife to one's own flesh."

4. Waiting for the Fed: U.S. markets have been on edge in recent days as investors have tried to figure out the timing of a rise in U.S. interest rates. The Federal Reserve starts a two-day meeting Tuesday, and markets are speculating that a critical word -- patient -- may be removed from its official policy statement. That could open the door for the Fed to raise rates in June, earlier than some hoped.

5. Economics: The National Association of Home Builders/Wells Fargo housing market index will come out at 10 a.m. ET.